Question 6 Not yet answered An old truck, which cost $51,600 and was two-thirds depreciated, was exchanged for a tractor with a fair value of $52,000; $34,000 cash was paid for the tractor. The exchange had commercial substance. At what amount should the tractor be recorded? Points out of 3.00 Select one: a. $85,600 Flag question b. $17,200 c. $51,200 d. $51,600 e. $52,000 Given the following for the Illinois Company:. Question 7 Not yet answered Points out of 3.00 Date 5/1/13 Event Purchase Machine Salvage: $2,000 Cost $12,000 5 year life straight-line Cost: 54000 No change in salvage Flag question 10/1/14 Addition to Machine Extends useful life to 5/1/19 Depreciation expense for year-end 12/31/15 is: Select one: a. $2,436 b. $2,140 c. $2,109 d. $2,098 e. $3,055